Foresight Autonomous signs strategic agreement with 7meerkat

Foresight Autonomous (FRSX) announced the signing of a three-way multi-phase strategic cooperation agreement with 7meerkat, a South Korean company providing next generation parking and city management systems, and KONEC, a leading South Korean Tier-One automotive supplier. The parties will collaborate to develop and commercialize artificial intelligence-powered smart parking and city management solutions using Foresight’s advanced 3D perception technology. The agreement follows the successful completion of a proof-of-concept project that assessed the performance of Foresight’s technology in detecting vehicles and pedestrians in parking lots in harsh weather and low-light conditions.